Legg Mason Inc. reported that clients added more than $8 billion in cash to accounts at the Baltimore money manager during its recently finished fiscal year, breaking a six-year streak of client cash flowing the wrong way — out.

Legg Mason Inc. reported Thursday its quarterly profit grew 51 percent, thanks to a strategy that has diversified the money manager's investment portfolio.
The Baltimore-based company said it earned $72.2 million, or 61 cents per share, in the three...

Assets under management at Legg Mason Inc. jumped 9 percent in June, compared with a year earlier, the Baltimore money manager said Friday.
Legg Mason reported $704.3 billion in managed assets, about $60 billion higher than in June 2013.
The company...

Legg Mason Inc.'s stock, which has struggled to recover from the financial crisis, hit a new 52-week high last week.
It could be a harbinger of a turnaround at the Baltimore-based money manager. Or Legg shares simply may be riding the recent record-...

Legg Mason Inc. has agreed to acquire QS Investors, a New York-based investment firm with $4.1 billion in assets under management and nearly $100 billion in assets under advisory.
Financial terms of the deal, announced Tuesday, were not disclosed.
The...

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Legg Mason Inc. said Wednesday that it completed the acquisition of Fauchier Partners, a European money manager acquired from BNP Paribas Investment Partners.
Legg Mason Inc. said Wednesday that it completed the acquisition of Fauchier Partners, a European money manager acquired from BNP Paribas Investment Partners.
The Baltimore-based money manager paid $80 million for Fauchier plus agreed to pay as much as $56 million more over the next few years if financial targets are reached.
Fauchier, a...

When it comes to generating income from investments, Americans' expectations for returns are significantly higher than what they are actually earning, according to a survey released this morning by Legg Mason Inc.
“Our survey is telling us that income-oriented investors in the U.S. are coming up well short of their goals — almost 3 percent short — and that number could be significant especially for retired investors who need to live on the income their portfolios generate,”...

The compensation of Legg Mason Inc.'s CEO and chief financial officer more than doubled over the year that ended March 31, according to a proxy statement filed Wednesday with regulators.
CEO Joseph A. Sullivan, who took the helm of the Baltimore-based money manager in February, saw his total compensation for the fiscal year rise to $7.29 million, up from nearly $3.23 million the prior year. This includes a $425,000 salary, a $2.7 million cash bonus and $3.77 million in stock awards.
The total...

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Legg Mason Inc. announced Wednesday it would be shutting down its London-based emerging markets boutique and returning money to investors.
Esemplia Emerging Markets manages $500 million in assets, not large enough to keep operating, Legg said. The firm, acquired in 2005 when Legg took on Citigroup's asset management business, will wind down over the next couple of quarters. Twenty-five employees stand to lose their jobs.
The Baltimore-based money managers said it is still interested in building its...

Baltimore-based money manager Legg Mason Inc. will incur charges of $10 million in each of the last two quarters of this year for paying severance and other expenses related to streamlining its business, according to a Wednesday filing with the Securities and Exchange Commission.
These include shutting down its London-based emerging markets boutique, Esemplia Emerging Markets, as well as reducing the size of a sales office in Canada, said spokeswoman Mary Athridge.
These moves are expected to save...

The local United Way has named a former CEO of Legg Mason Inc. to lead its effort to raise more than $24 million for programs to improve education, financial stability and health for central Marylanders.
Mark Fetting, who left his position at the investment management firm last year, will kick off the campaign this month.
"Now is the time to do more for others," Fetting said in a statement. "United Way is the best combination of effectiveness and efficiency in responding to our community's greatest...